Question：Jose is a partner at Ramos & Co. His firm's biggest audit client is Madrid Co, a public interest entity.
Jose has been the engagement quality control reviewer for the last two years on the Madrid Co audit. Before this he was the engagement partner for five years.
In accordance with the ACCA Code of Ethics and Conduct, what action should Ramos & Co take in relation to Jose's involvement in the audit going forward?
A. Allow Jose to remain as quality control reviewer for five more years and then ensure he is not involved in the Madrid Co audit for the subsequent two years.
B. Rotate Jose off the audit altogether this year and ensure he is not involved in the Madrid Co audit for at least seven years.
C. Rotate Jose off the audit altogether this year and ensure he is not involved in the Madrid Co audit for at least two years.
D. Allow Jose to remain as quality control reviewer for two more years and then ensure he is not involved in the Madrid Co audit for the subsequent two years.
The correct answer is: Rotate Jose off the audit altogether this year and ensure he is not involved in the Madrid Co audit for at least two years.
解析：According to the ACCA Code, in respect of an audit of a public interest entity, an individual shall not be a 'key audit partner' for more than seven years. After such time, the individual shall not be a member of the engagement team or be a key audit partner for the client for two years.
A 'key audit partner' includes: The engagement partner, the individual responsible for the engagement quality control review, and other audit partners on the engagement team who make key decisions or judgments on significant matters with respect to the audit of the financial statements.
高顿网校温馨提醒
各位考生，2015年ACCA备考已经开始，为了方便各位学员能更加系统地掌握考试大纲的重点知识，帮助大家充分备考，体验实战，高顿网校开通了全免费的
ACCA题库（包括精题真题和全真模考系统），题库里附有详细的答案解析，学员可以通过多种题型加强练习。
戳这里进入ACCA免费题库>>>
写评论
